16 Oct 2024 - Nifty Predictions (Next Trading Day)

1. Index Chart and Time Frames
Index: Nifty 50
Date: October 15, 2024
Time Frames:
Weekly (1W)
Monthly (1M)
Daily (1D)
5-Minute (5)

2. Support and Resistance Levels
Support Levels:
Daily: Approximately 25,000
Weekly: Approximately 24,800
Resistance Levels:
Daily: Approximately 25,200
Weekly: Approximately 26,200

3. Market Scenario for Next Trading Day
Expected Gap Likely to open flat or with a slight gap down based on recent price action.
Market Trend Range-bound to slightly bearish.
Timing Initial volatility in the morning, potentially stabilizing in the afternoon.

4. Options Strategies for Next Trading Day
Specific Strategies:
Bull Put Spread: If the market shows signs of holding above support.
Bear Call Spread: If resistance levels are tested and rejected.
Strikes:
For Bull Put Spread: Sell 25,000 and buy 24,800.
For Bear Call Spread: Sell 25,200 and buy 25,400.

5a. Calendar Spread Strategy
Strikes for Calendar Spread:
Daily: 25,000
Weekly: 25,200
Monthly: 25,500

5b. Daily, Weekly, and Monthly Trends
Daily Slightly Bearish Support: 25,000, Resistance: 25,200
Weekly Bullish (but testing resistance) Support: 24,800, Resistance: 26,200
Monthly Bullish Support: 24,500, Resistance: 26,500

6. Trading Recommendations for ATM, ITM, OTM
ATM Trade Morning session
ITM Don't Trade All day
OTM Trade (with caution) Afternoon session

Conclusion
The analysis suggests a cautious approach for the next trading day, focusing on support and resistance levels. Adjust your strategies based on real-time market movements and news.

Disclaimer: Do Manage your Risk and Money management, Do not Forget to PUT STOP LOSS.